Empowering Financial Security for Canadians with Disabilities
The RDSP helps eligible individuals and their families build long-term savings with government support. It’s designed to supplement income and improve quality of life in adulthood — especially for those who may not qualify for traditional retirement plans.
Key Benefits
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Tax-Deferred Growth
Investments grow tax-free until withdrawn. -
Government Contributions
- o Canada Disability Savings Grant (CDSG): Matches up to 300% of contributions, with a lifetime maximum of $70,000.
- o Canada Disability Savings Bond (CDSB): Up to $1,000/year for low-income individuals, with a lifetime maximum of $20,000 — no personal contributions required
- Lifetime Contribution Limit: $200,000.
- No Impact on Federal Benefits: RDSP withdrawals do not affect eligibility for GIS, OAS, or CPP.
- Flexible Investment Options: Mutual funds, GICs, ETFs, and more.
Eligibility
- Must be under age 60.
- Must be a Canadian resident with a valid Social Insurance Number (SIN).
- Must be eligible for the Disability Tax Credit (DTC).
Withdrawals & Planning
- Withdrawals can begin at age 60.
- 10-year rule: Grants and bonds must remain in the plan for at least 10 years before withdrawal.
- Lifetime Disability Assistance Payments (LDAPs): Provide regular income in adulthood.
- Specified Payments: Lump-sum withdrawals allowed under certain conditions.
Advisor Tip from Guriqbal Singh
"RDSPs are one of the most generous savings tools available — especially for families with limited income. I help clients navigate eligibility, maximize grants and bonds, and structure withdrawals to support lifelong financial security."
Ready to Build a Secure Future?
Let’s explore how the RDSP can support your family’s long-term goals.
Book a consultation today with O Canada Insurance Inc.